Cyprus Real Estate

Cyprus property picture improves

Monday, 22 August 2011
Cyprus Property News, 18.07.2011 Figures recently released by the Department of Lands and Surveys show that 1,316 property transfers took place at District Lands Offices throughout Cyprus during June; an increase of more than 100 on the number that took place in May. Speaking with INBNews last week Interior Minister Neoclis Sylikiotis noted that there is now the possibility of issuing Title Deed... read more

Property transfers continue to improve

Monday, 18 July 2011
Pafilia Property Developers, by Barry Winter Latest figures to come out of the Department of Land and Surveys show that the number of properties being transferred at District Lands Offices across Cyprus is continuing to improve. Island-wide property transfers, 2011 Month Nicosia Famagusta Larnaca Limassol Paphos Total January 209 ... read more

New Law to Improve Cyprus Property Transparency

Thursday, 28 April 2011
A Place in the Sun, Thursday, April 28, 2011 The Cypriot parliament has passed the final two planning amnesty bills, which should ensure that people who have purchased homes in Cyprus finally receive their title deeds after waiting up to 10 years to receive them. It is hoped that the new legislation will ensure that future Cyprus property buyers do not have to wait so long to receive their ... read more

Harassed Home-Buyers to Sue Cheating Bank in North

Friday, 22 April 2011
Cyprus Mail, by Simon Bahceli, 21st April, 201 A group of British expats who fell foul of dodgy land developers in the North have launched legal proceedings against a bank that they say acted illegally in seeking to repossess their properties. Privately-owned Akfinans Bank faces accusations of accepting as collateral properties already sold to the expats when it provided a loan of 41,600 pounds ... read more

Is It Unreasonable to Reject Properties without Deeds?

Thursday, 14 April 2011
By Antonis Loizou FRICS, 11th April, 2011 Our sales team has noticed that foreign (in particular) buyers demand that a title deed be issued prior to proceeding with an acquisition.  This is very logical and understandable. Yet there are numerous units/projects which have a building permit and a certificate of final approval and the seller even offers a bank guarantee that the title deeds wi... read more

British Evictions Highlight North’s Property Perils

Friday, 1 April 2011
Cyprus Mail, by Nathan Morley, 1st April, 2011 A group of elderly British expatriates living near Kyrenia are awaiting eviction from their homes after a developer mortgaged the land on which they were built and then defaulted on repayments. It has emerged that their developer, who is understood to have fled to Turkey, handed the title deeds of ten properties to the Akfinans bank without the know... read more

Cyprus Lifts EU Property Agent Restrictions

Wednesday, 23 February 2011
Financial Mirror, 23rd February, 2011 Estate agents from the European Union are free to establish themselves and exercise their activities in Cyprus, following Commission pressure to persuade the government to remove a law that restricted the activities on the island of professionals from other member states. The European Commission had initiated infringement proceedings against Cyprus because o... read more

Cypriot Sales Increase in 2010

Thursday, 27 January 2011
Sales in the Cypriot property market rose by 5% in the course of 2010 compared to the previous year, new figures from the Department of Lands and Surveys show. The total number of transactions carried out increased to 8,598, mainly boosted by a 14% jump in sales in Nicosia and a 10% increase in the city of Limassol. Speaking to Bloomberg, Andreas Christophorides, managing dir... read more
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